The Nigerian 2019 general elections are just around the corner, with political heavy weights set to do battle on the ballot box in three months’ time. The upcoming political contest may just bring good tidings for crypto-enthusiasts in Africa’s largest economy. This is after an opposition leader and key presidential hopeful, Atiku Abubakar, promised to support the blockchain and crypto-currencies in the country if elected president.
The presidential candidate who will run on a People’s Democratic Party (PDP) ticket, promised to roll out a “Get Nigeria working again” policy if elected president. This policy contains clauses aimed at speeding up and animating the economy positively through the use of the blockchain and crypto-currency”
The presidential hopeful reportedly stated that his party would go about unlocking the country’s potential new economy by promoting the production of a comprehensive policy on the blockchain technology, as well as crypto-currencies.
The daily post also quoted Abubakar- the presidential candidate, as stating “regulation will provide clarity” in this “industry that consists of 1,800 currency types.” The “Get Nigeria working again” initiative also seeks to revitalize the country’s economy by creating new job opportunities as well as raising revenue for the federal government as well as the citizenry of Nigeria.
The Nigerian government has been active on crypto, with the federal government partnering with local startups in a bid to develop blockchain infrastructure in the country. Nigerian regulator, Nigerian deposit insurance corporation (NDIC) appeared to have poured cold water on pro-blockchain efforts earlier this year though, with the body warning against crypto transactions back in march-since those transactions were not insured
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